How many types of insurance do families need?

Insurance is used to cover the financial loss caused by any unforeseen event.  Today we are going to talk about what different types of insurance are needed in each family.

Health insurance

To be treated in a hospital if there is health insurance
 Expenses do not seem to be drastic, otherwise they run the risk of ruining the household budget and incurring a huge financial burden.  This is especially true when there is an epidemic like Corona.  The government has ordered that all treatments related to Kovid-19 be covered under health insurance.  Insurance can be taken out separately for each member of the family or all at once.  Nowadays, health insurance is provided with a super top up with a base plan, which can be used to provide financial protection at low cost.

Life insurance

There are different types of life insurance plans.  There are several types of life insurance plans besides the term plan.  The best known in addition to the term plan Plans are endowment plans.  If you look at it from the point of view of financial security, term planning is the main need of today’s time.  It offers high risk cover with low premium.

Personal Accident Insurance

Personal Accident Insurance is useful in the event of a paralysis or death due to an accident.  This insurance works when you need treatment after an accident.  Narayan does not belong to the insured
 In the event of death in an accident, the family members are not only shocked but also have problems in running the household expenses.  Under normal circumstances, personal accident cover covers death in an accident, complete paralysis, partial paralysis and temporary short-term paralysis.

Critical Illness Policy

General health insurance covers the cost of treatment and hospitalization, while critical illness cover covers the policyholder in case of serious illnesses such as cancer, paralysis, heart disease, organ transplantation, etc.  Therefore, in addition to general health insurance, it is advisable to take a critical illness cover policy.
Notably, critical illness cover can be added to many life insurance policies at a lower premium.  Mainly cancer, kidney failure, which requires dialysis, aplastic anemia, and stage liver failure, coma, open chest coronary artery bypass grafting, paralysis of limbs, stroke, permanent deformity, multiple sclerosis, multiple sclerosis.  Surgery, open heart replacement, heart valve repair, etc. and large organ transplants cover all diseases.

Home insurance

Natural disasters (floods, hurricanes, landslides,
 Home insurance is useful to cover the damage caused to the house in the event of unforeseen events like earthquakes, man-made disasters (robbery, burglary, theft, etc.).  You can take home insurance for your own house, rental house, flat, luxury bungalow, etc. residential property.

Vehicle insurance

Most families nowadays have some kind of vehicle.  Motor / vehicle insurance can be taken for four wheeler, commercial truck, two wheeler and other vehicles running on the road.  If the vehicle is damaged in case of unforeseen event or natural calamity, it is covered under this insurance.  At present motor insurance is mandatory for cars, bikes, scooters, trucks.


All of the above types of insurance should be a priority for every family, as without it there is a problem of incurring huge financial losses.

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